737 Mayfield BlvdSan Antonio, TX 78211

For Sale
$5,850,000

San Antonio Multifamily Investment

Overview

Added:
Dec 11, 2024
Days on market:
94
Mayfield Gardens, a 54-unit apartment building in San Antonio, Texas (78211), presents a compelling investment opportunity. This Class C, stabilized multifamily property boasts 100% occupancy as of September 18, 2024, generating a current NOI of $418,201 and a 7.15% cap rate. Built in 1989 and extensively renovated in 2022, the property features over $500,000 in recent upgrades, impacting 33 of the 54 units. These improvements, completed within the last 36 months, have significantly enhanced the property's value and rental income potential. The remaining 21 units offer further upside for increasing NOI and achieving the pro-forma NOI of $470,575 and an 8.04% pro-forma cap rate. The asking price is $5,850,000, translating to $108,333.33 per unit. Located at 737 W Mayfield Blvd, this property is situated in Bexar County and offers a strong foundation for immediate cash flow and future appreciation. The significant recent renovations, high occupancy rate, and strong projected returns make this a highly attractive investment prospect in the thriving San Antonio market.

Highlights

  • 54-unit apartment building in San Antonio, TX (78211).
  • Class C multifamily property with 100% occupancy (as of September 18, 2024), generating $418,201 NOI and a 7.15% cap rate.
  • $5,850,000 asking price, $108,333 per unit.
  • Built in 1989, extensively renovated in 2022 with over $500,000 in upgrades to 33 units.
  • Pro-forma NOI of $470,575 and 8.04% pro-forma cap rate.

Property Details for 737 Mayfield Blvd

Property type
Multifamily properties, Apartment buildings
Class
C
Year Built/Renovated
1989/2022
Units
54

Location Insight

City
San Antonio
County
Bexar
State
Texas
Latitude
29.361602605954
Longitude
-98.536633864251
737 Mayfield Blvd, San Antonio, Texas

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737 Mayfield Blvd
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